Tirupati Foam - Board recommends Dividend 
Tirupati Foam Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 07, 2010, inter alia, has recommended dividend @ 20% for the year ended March 31, 2010 on 44,07,000 equity shares of Rs. 10/- each.
Further, the Annual General Meeting of shareholders of the Company will be held on September 30, 2010.

BASF India - Updates on approval of Scheme of Amalgamation 
With reference to the earlier announcement dated September 10, 2010 wherein the Board of BASF India Ltd. (BIL) has approved the Scheme of Amalgamation (Scheme) and also share exchange ratio, determined by the independent valuers viz., Ernst & Young and Deloitte, subject to the approval of shareholders and High Court of Bombay, BASF India Ltd has now informed BSE that the issued, subscribed and paid up capital of BASF Coatings ...

Naval Tech - Board recommends Dividend
Naval Technoplast Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on August 31, 2010, has recommended the payment of dividend of Rs. 0.10 per share on Equity Shares for the financial year March 31, 2010.

Global Capital - Board approves Stock Split 
Global Capital Markets Ltd has informed BSE that the Board of Directors of the Company at its meeting held on September 15, 2010, have considered the following Resolutions subject to approval of Shareholders by way of Postal Ballot:
1. Split / Sub-division of Equity shares of the Company of the face value of Rs. 10/- (Rs. Ten) each to the face value of Re. 1/- (Re. One) ...

**[investwise]** Marg Limited: Port And SEZ Play (Edel Puts A 1 Yr Tgt Of Rs 377)

 

Marg Limited: Port And SEZ Play PO Rs 377   Outlook and valuations: Attractive; initiating coverage with 'BUY' We have valued Marg using SOTP at a fair value of INR 377/share. At CMP of INR 220/share, we see potential upside of 72% from current levels. Scale up at the port and volumes in SEZ and real estate business will be key drivers for our valuation. We initiate coverage on the stock with 'BUY' recommendation.   Changing tack; regional development model to drive growth   Marg's business has transcended from being an asset light model to a mix of light and heavy assets, with high visibility and a sustained earnings model. The company plans to achieve this by setting up infrastructure assets and providing ancillary services to boost development of the surrounding hinterland. Cash flows from short-term EPC business are expected to support initial capital for its real estate and infrastructure assets, which will drive the company's future growth.   Port strategically located to tap thermal coal demand   Karaikal Port (KPPL), Marg's flagship project, commenced phase I operations in June 2009 and has already handled ~1.4 MT cargo in Q1FY11. It has undertaken phase IIA expansion to 21 MTPA. The port is well positioned to encash on bulk cargo demand due to its strategic location (well connected to central Tamil Nadu through rail and road), deep draft, faster turnaround time, and state-of-the-art facilities compared with neighbouring major ports—Chennai and Tuticorin.   Improved traction in Chennai market to boost real estate business   With signs of recovery in India on the back of strong domestic demand, Marg's real estate business, especially at the Swarnabhoomi SEZ (on the outskirts of Chennai), has picked up through improved land sale and lease rentals.   Further, its multi-purpose mall at Karapakkam is first of its kind to address the underpenetrated organised retail in Chennai's OMR and increasing demand for office space by IT companies. In addition, the company's strong pipeline of residential project launches should aid valuations.   External EPC business gaining ground   Marg's current ~INR 28 bn order book comprises 20% external contracts. It is committed to enhance this share by forging alliances to develop a forte in roads and irrigation by registering itself with various government bodies like Military Engineering Services, Karnataka Housing Board, among others.   Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.   Nothing in this article is, or should be construed as, investment advice.

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**[investwise]** Gold: Set To Go Higher As Anglo Ashanti Moves To Remove Gold Hedges

 

AngloGold Ashanti plans to launch a concurrent equity offering and mandatory convertible notes offering, the company said.   It will offer nearly 16 million new ordinary shares, as well as mandatory convertible subordinated bonds due 2013 which will convert into a maximum of the same number of American depositary shares.   Pricing of the stocks as well as final terms of the bonds will be announced after an accelerated bookbuild process. AngloGold Ashanti ( AU - news - people ) will use proceeds to eliminate its gold hedging position while maintaining a strong balance sheet to fund projects.   Gold futures are trading at $1,267 an ounce, down from near record highs on Tuesday's close. Safe Harbor Statement: Some forward looking statements on projections, estimates, expectations & outlook are included to enable a better comprehension of the Company prospects. Actual results may, however, differ materially from those stated on account of factors such as changes in government regulations, tax regimes, economic developments within India and the countries within which the Company conducts its business, exchange rate and interest rate movements, impact of competing products and their pricing, product demand and supply constraints.   Nothing in this article is, or should be construed as, investment advice.

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